1. Using the given data below, (there was a typo error, the date December 31, 2014 should be December 31, 2018). The question is, at December 31, 2019, how many shares were authorized?2. at December 31, 2019, how many shares are issued3. at December 31, 2019, how many shares are outstanding? MJS Inc., had 700,000 authorized shares of Ordinary share capital, P 100 par, and 300,000 sharesoutstanding at Dec. 31, 2014. The following events occurred during 2019:Jan. 1 Declared 10% share capital dividendMar. 1 Issued the share capital dividendJune 30 Purchased 100,000 shares of Treasury sharesAug 1 Reissued 30,000 Treasury sharesNov 1 Declared a 2 for 1 share split

1. No. of shares authorized on December 31, 2019 = No. of shares authorized on December 31, 2018 =…

Answered: MJS Inc., had 700,000 authorized shares…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 5MC: Kent Corporation was organized on January 1, 2014. On that date, it issued 200,000 shares of 10 par...

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1. Using the given data below, (there was a typo error, the date December 31, 2014 should be December 31, 2018). The question is, at December 31, 2019, how many shares were authorized?

2. at December 31, 2019, how many shares are issued
3. at December 31, 2019, how many shares are outstanding?

MJS Inc., had 700,000 authorized shares of Ordinary share capital, P 100 par, and 300,000 shares
outstanding at Dec. 31, 2014. The following events occurred during 2019:
Jan. 1 Declared 10% share capital dividend
Mar. 1 Issued the share capital dividend
June 30 Purchased 100,000 shares of Treasury shares
Aug 1 Reissued 30,000 Treasury shares
Nov 1 Declared a 2 for 1 share split

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